Stay informed with today’s latest Dollar to Naira exchange rates across Nigeria’s black market and the Central Bank of Nigeria (CBN) official rates. As of Monday, May 5, 2025, here is the most accurate and up-to-date conversion guide for major global currencies including USD, GBP, EUR, CNY, CAD, ZAR, and more.
Contents
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Black Market Exchange Rates – May 5, 2025
| Currency | Buy Rate (NGN) | Sell Rate (NGN) |
|---|---|---|
| US Dollar (USD) | 1600 | 1608 |
| British Pound (GBP) | 2105 | 2125 |
| Euro (EUR) | 1770 | 1795 |
| Canadian Dollar (CAD) | 1050 | 1150 |
| Chinese Yuan (CNY) | 200 | 220 |
| South African Rand (ZAR) | 80 | 100 |
CBN Official Exchange Rates – May 5, 2025
These are the Central Bank of Nigeria’s official benchmark exchange rates for today.
| Currency | Official Rate (NGN) |
|---|---|
| US Dollar (USD) | 1602.18 |
| British Pound (GBP) | 2133.30 |
| Euro (EUR) | 1820.24 |
| Chinese Yuan (CNY) | 220.32 |
| Swiss Franc (CHF) | 1940.86 |
| Saudi Riyal (SAR) | 427.18 |
| South African Rand (ZAR) | 87.22 |
Why Today’s Exchange Rate Matters
Exchange rates in Nigeria’s black market affect everything from the price of goods to the cost of traveling abroad. The difference between the black market and CBN rates continues to impact importers, small business owners, and Nigerians relying on remittances or international trade.
Due to inflation, FX scarcity, and increasing demand for the dollar, the naira continues to face pressure across both official and unofficial markets. As we move into May 2025, keeping track of these changes is essential.
Where to Buy and Sell Foreign Currency in Nigeria Today
Black market exchanges are mostly found in major cities like Lagos (Ikeja, Lekki, Ojuelegba), Abuja (Wuse, Garki), Port Harcourt, Kano, and Onitsha. Rates may vary slightly depending on your location and negotiation skills.
Key Insights for May 5, 2025
- USD/NGN hits 1608 at parallel market, reflecting persistent FX demand.
- CBN rate stabilizes slightly at 1602.18/USD, showing minimal movement from last week.
- GBP and EUR remain strong, widening the gap between market and official rates.
What to Expect Next?
With Nigeria’s continued efforts to stabilize its currency, including ongoing CBN reforms and forex interventions, fluctuations may persist. Market watchers expect more volatility unless sustained liquidity and policy direction return.
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